The equilibrium price in a market characterized by oligopolyis a.higher than in

Question

The equilibrium price in a market characterized by oligopolyis a.higher than in monopoly markets and higher than in perfectlycompetitive markets b.higher than in monopoly markets and lower than in perfectlycompetitive markets. c.lower than in monopoly markets and higher than in perctlycompetitivge markets. d.lower than in monopoly markets and lower thain in perfectlycompetitive markets. The equilibrium price in a market characterized by oligopolyis a.higher than in monopoly markets and higher than in perfectlycompetitive markets b.higher than in monopoly markets and lower than in perfectlycompetitive markets. c.lower than in monopoly markets and higher than in perctlycompetitivge markets. d.lower than in monopoly markets and lower thain in perfectlycompetitive markets.

Explanation / Answer

C. Monopoly markets are lower while competitve markets are higher for an oligopoly markey characterized by an equilibrium price.

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